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Debt free before August 2023

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  • Poppy1984
    Poppy1984 Posts: 628 Forumite
    Fourth Anniversary 500 Posts Name Dropper I've been Money Tipped!
    Fantastic, well done you! Happy New Year xx
    Thank you @DancingInTheRain

    happy new year to you too 
    19-02-18 Total Debt £30,322
    17-12-21 I'm Debt Free 🎉🎉🎉🎉
  • enthusiasticsaver
    enthusiasticsaver Posts: 16,058 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Well done on getting below the £10k figure and am willing you on to get rid of it completely by the end of this year. Very well done considering you had repairs etc to pay out for as well. Good tip to ask yourself before buying things whether you want it more than you want to be debt free. 
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    The 365 Day 1p Challenge 2025 #1 £667.95/£162.90
    Save £12k in 2025 #1 £12000/£7000
  • Poppy1984
    Poppy1984 Posts: 628 Forumite
    Fourth Anniversary 500 Posts Name Dropper I've been Money Tipped!
    Well done on getting below the £10k figure and am willing you on to get rid of it completely by the end of this year. Very well done considering you had repairs etc to pay out for as well. Good tip to ask yourself before buying things whether you want it more than you want to be debt free. 
    Thank you @enthusiasticsaver I'm so pleased to have my debt in a 4 figure amount. If nothing else it feels a much more manageable amount and far less terrifying than the £30322 I started at 😱 my mortgage is also ticking away nicely and down to £48,000 so I feel a lot safer now that my over all debt is under £60,000. 

    Yes thank you I really hope I can be debt free in 2021. 

    Poppy :heart:
    19-02-18 Total Debt £30,322
    17-12-21 I'm Debt Free 🎉🎉🎉🎉
  • savingholmes
    savingholmes Posts: 28,958 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Fab progress. I wish my mortgage was that small.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £3K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.6K updated 6/7/25
  • Poppy1984
    Poppy1984 Posts: 628 Forumite
    Fourth Anniversary 500 Posts Name Dropper I've been Money Tipped!
    Fab progress. I wish my mortgage was that small.
    Thank you @savingholmes it is a tiny house with no garden mind you 😂 when I get debt free I'd love to buy something slightly bigger with a garden 

    poppy :heart:
    19-02-18 Total Debt £30,322
    17-12-21 I'm Debt Free 🎉🎉🎉🎉
  • Sarahwithlove
    Sarahwithlove Posts: 3,322 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    Congratulations on getting below the 10k what a way to start 2021!
    *Dad loan - £5300 - £7300
    *Virgin Credit Card - £3552.50 - £0
    *Natwest - £1828.35 -£400

    Barclaycard - £2315.25 - £0.00

    Creation Finance - £960.32 £860
    *Total debt - £8560/£11641.17*


    Savings
    *Savings Buffer - £1000/£1500
    *Emergency Fund - £1000/£1500


    New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/
  • Poppy1984
    Poppy1984 Posts: 628 Forumite
    Fourth Anniversary 500 Posts Name Dropper I've been Money Tipped!
    Congratulations on getting below the 10k what a way to start 2021!
    Thank you @Sarahwithlove 😁 
    19-02-18 Total Debt £30,322
    17-12-21 I'm Debt Free 🎉🎉🎉🎉
  • Amazing progress and lots of us are feeling the same Poppy, just wanted you to know you’re not on your own!
    April 2020 - £102,222 Loans/CC’s.

    Jan 2022 - £0
    Cleared - £102,222

    Jan 2022 - Now time to build suitable investments and a business!
  • Hi Poppy you are doing really well. It’s hard to keep going , I’ve found it’s easier to tackle debt in lockdown as not spending and while not going out and no holiday planning it’s a positive for debt reduction. I’ve also found the receipt apps slow to build and I’m getting very few prolific surveys. Just wondering if eBay sales are working for people.I do need to sort, photograph things to go on eBay to reduce my debt further. My current DFD is Nov 2024. Well done Poppy on getting yours to 2022. 
    Pay ALL your debt off by Xmas 2021 no 50 Target for this year £12,000 
    Pay all your debt off by Xmas 2022 target £15,000 pd £7969.95 / 15,000
    SPC 2022/23 014
    Pay all of your debt off by XMAS 2023
     #no 28 target £11,200.00



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